Kevin Warsh nominated as Fed chair, vows independence
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Warsh on Monday warned the Fed must stay 'in its lane' and avoid climate, inequality and fiscal policy.
- Trump announced in late January that Warsh would replace Powell as Fed chair.
- Tillis says he will block Warsh’s confirmation until the multibillion‑dollar headquarters renovation probe is resolved.
- White House says it aims to confirm Warsh before Powell’s term ends in May.
- Powell pledged to stay on as chair until the investigation is settled, extending his tenure beyond May.
Why it matters: The White House secures a Fed chair aligned with Trump’s agenda, while the Fed’s independence risks erosion amid a multibillion‑dollar headquarters probe, potentially shaking market confidence and raising borrowing costs.
